Macro Pulse
Economic Calendar
Mixed Asian PMIs Sustain Neutral Macro Regime
Macro Regime Overview Neutral conditions hold into the London session as Asian data delivered no decisive growth impulse. China services PMI fell sharply to 50.4…
Neutral Macro Holds as Korean Print and Auctions Keep Risk Even
Macro Regime Overview Neutral conditions persist into the London open as Korean July inflation printed 2.8 percent against a 3.0 percent forecast, trimming any immediate…
Mixed Data Locks Neutral Macro Regime in Place
Macro Regime Overview Neutral conditions hold firm after a raft of mixed global prints failed to deliver any decisive growth signal. Asian PMIs showed Japan…
Neutral Macro Regime Holds Steady on German Retail Beat and Mixed PMI
Macro Regime Assessment Neutral conditions define the current macro regime as mixed global PMI prints and limited dollar movement keep directional signals muted. German retail…
Soft China PMI and Dollar Weakness Hold Macro Balance
Macro Regime Overview Mixed global prints have left the macro regime balanced with limited conviction for risk direction. Building on yesterday’s view that softer Australian…
Mixed Data Pins Macro Regime Neutral as Dollar Softens
Macro Regime Overview Mixed global prints have left the macro regime balanced with limited conviction for risk direction. European GDP figures held steady overall, Spain…
Soft Aussie CPI Anchors Neutral Macro Regime
Australian Inflation Prints Set Neutral Tone June and Q2 Australian inflation figures arrived softer than expected on both headline and trimmed measures. Quarterly inflation rose…
Ifo Beat Anchors Neutral Macro as Mixed Prints Balance Risk
Session Regime and Core Drivers The macro regime stays neutral as the German Ifo Business Climate beat to 86.6 against 85.7 expected provides the clearest…
Neutral Pulse: Asia PMI Beats Offset UK Retail Surprise
Regime Overview The macro regime stays neutral with conviction anchored at five as fresh regional prints fail to shift the broader risk backdrop. Australian manufacturing…
Australian Jobs Beat Anchors Neutral Macro Stance With Firmer Dollar
Session Data Surprises and Regional Implications Australian employment surged 76.3k against a 15k forecast, lifting the participation rate to 67 percent and confirming a broad…